Company No: 03041024 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	77,907		44,487
Tangible assets	4	175,056		149,840
Investments	5	86		86
		253,049		194,413
Current assets
Stocks		418,371		416,173
Debtors	6	766,999		615,411
Cash at bank and in hand		956,664		712,425
		2,142,034		1,744,009
Creditors: amounts falling due within one year	7	( 709,693)		( 364,026)
Net current assets		1,432,341		1,379,983
Total assets less current liabilities		1,685,390		1,574,396
Provision for liabilities		( 37,007)		( 30,476)
Net assets		1,648,383		1,543,920
Capital and reserves
Called-up share capital	8	160		160
Capital redemption reserve		40		40
Profit and loss account		1,648,183		1,543,720
Total shareholders' funds		1,648,383		1,543,920

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Henchman Limited (registered number: 03041024) were approved and authorised for issue by the Director on 26 September 2025. They were signed on its behalf by:

T E Kitching Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Henchman Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 10 Snarlton Farm, Melksham, SN12 7QP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless these costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software	2 - 5 years straight line
Trademarks, patents and licences	10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements	depreciated over the life of the lease
Plant and machinery	3 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of costs and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Grant Income

Grants are recognised based on the accrual model and the income is recognised in the period to which it relates.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	10		10

3. Intangible assets

	Computer software		Trademarks, patents and licences		Total
	£		£		£
Cost
At 01 January 2024	112,710		62,161		174,871
Additions	32,500		8,230		40,730
At 31 December 2024	145,210		70,391		215,601
Accumulated amortisation
At 01 January 2024	111,975		18,409		130,384
Charge for the financial year	734		6,574		7,308
At 31 December 2024	112,711		24,983		137,694
Net book value
At 31 December 2024	32,499		45,408		77,907
At 31 December 2023	735		43,752		44,487

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	82,961		128,081		40,636		24,296		19,127		295,101
Additions	71,777		13,579		0		1,155		2,656		89,167
Disposals	0		( 36,364)		0		( 526)		( 2,526)		( 39,416)
At 31 December 2024	154,738		105,296		40,636		24,925		19,257		344,852
Accumulated depreciation
At 01 January 2024	59,664		16,346		36,413		19,625		13,213		145,261
Charge for the financial year	8,368		12,705		1,056		1,167		3,055		26,351
Disposals	0		0		0		( 363)		( 1,453)		( 1,816)
At 31 December 2024	68,032		29,051		37,469		20,429		14,815		169,796
Net book value
At 31 December 2024	86,706		76,245		3,167		4,496		4,442		175,056
At 31 December 2023	23,297		111,735		4,223		4,671		5,914		149,840

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	86
At 31 December 2024	86
Carrying value at 31 December 2024	86
Carrying value at 31 December 2023	86

6. Debtors

	2024		2023
	£		£
Trade debtors	46,233		36,483
Amounts owed by Group undertakings	237,782		205,302
Amounts owed by director	50,554		144,662
Prepayments and accrued income	62,482		75,188
Other debtors	369,948		153,776
	766,999		615,411

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	358,001		130,880
Accruals	166,401		34,254
Corporation tax	32,636		55,802
Other taxation and social security	53,072		60,662
Other creditors	99,583		82,428
	709,693		364,026

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
160 Ordinary A shares of £ 1.00 each	160		160

9. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	675,000		639,000

10. Related party transactions

Transactions with the entity's director

At the year end the director owes the Company £50,554 (2023 - £144,662). Interest is charged on the loan at 2% till March and then 2.25% onwards and it is repayable on demand.